When I talk to people about the Thrift Savings Plan the most common complaint I usually hear is how difficult it can be to withdraw funds from your account. Well, you may not believe it, but there is a bi-partisan effort underway in Congress to improve these rules and allow for greater withdrawal flexibility for TSP participants. In April, Senate Bill 873, The Thrift Savings Plan Modernization Act was sponsored by Senators Portman and Carper, and at the end of June, a companion bill, HR 3031, was sponsored in the House of Representatives by Representatives Cummings, Meadows, and Norton.
Submitted by John Cooney on Nov 13, 2018
Are you deploying to a tax-exempt zone? If so, the IRS has special rules for your Thrift Savings Plan and Roth IRAs that can help you minimize the effect of taxes on your retirement income.
Submitted by John Cooney on Jul 17, 2017